Kion Group is to buy the US automation specialist Retrotech from Savoye of France in a deal worth some $40 million. It will become part of Egemin, Kion’s automation business, once the deal is completed in the first quarter of 2016.
Retrotech, based in Rochester in New York State, specialises in systems design, customised warehouse control software and stacker crane modernisation and retrofits. It has around 140 employees and revenue of US $70 million in 2015.
It will become part of Egemin Group Inc., based in Holland, Michigan. The Retrotech brand will be retained and continue to be used in the USA.
Gordon Riske, Kion’s chief executive officer, said: “This deal is an important step on our journey to becoming a leading player in the fast-growing market for automated logistics and material flow systems. Automated intralogistics will play a crucial role in Industry 4.0, the digital transformation of manufacturing.”